OCC Releases Annual CRA Asset-Size Threshold Adjustments

On December 30, 2021, the Office of the Comptroller of the Currency (OCC) announced a revision to the asset-size threshold amounts used to define “small bank or savings association” and “intermediate small bank or savings association” under the Community Reinvestment Act (CRA).

Under the new threshold, a bank having assets of less than $1.384 billion as of December 31, 2021 or 2020 is considered a “small bank or savings association” under the CRA regulations. If a “small bank or savings association” had assets of at least $346 million and less than $1.384 billion during that same term, then it is considered to be an “intermediate small bank or savings association.”

The new threshold is effective January 1, 2022. Financial institution should review the amendments, understand the impact on their organizations, and update applicable policies and practices.